Minutes of Roborough Investment Club Meeting #72r2
18 April 2005

Attendees:
Franz Fuchs,Andy Davies,Allan Proudfoot,Alan Martin,Chris Bailey, Phil Ainsley, Les Watson

Apologies:
Geoff Floyd,

Absent:

Agenda:
Review minutes of previous meeting
Review of actions
Treasurer's report
Review of current holdings
AOB
Agenda for next meeting

1. Review minutes of previous meeting
Previous meeting's minutes approved.

 

2. Review Actions

Geoff's action to transfer the ComDirect account over to him is ongoing. ComDirect have requested that he write a letter confirming all the transfer details.

Geoff's action to transfer ownership of the current account to himself is still ongoing.


3. Treasurer's Report

Resignations

Andrew Watkins - paid 2092.54

Cock-up

My first attempt to transfer money from the broker to our bank account failed as I setup the transfer in the wrong direction. As a result Lloyds TSB transfer back the money and charged the club 30. I was more careful the second time I transfered the money. Andrew has now been given his cheque.

Shares purchase/sales this month

None

Dividends Received

Hardys & Hansons 17.01
Carnival Plc 2.35
Scottish Power 11.58

Asset Summary

 

Name of Company

No shares

Average price

Total Cost

Selling price

Net selling value

Profit or loss to date

Change during month

%

A

Personal

525

190.95

1002.49

215.00

1116.25

113.76

-36.75

-3.3%

 

Pennon Group

150

678.17

1017.25

976.00

1451.50

434.25

39.18

2.7%

 

Scot Power

234

434.62

1017.00

408.25

942.81

-74.19

-3.51

-0.4%

 

Whitbread

109

825.41

899.70

941.00

1013.19

113.49

45.23

4.5%

MI

Brown (N) Group

800

124.06

992.50

123.00

971.50

-21.00

-88.00

-9.1%

 

Carnival Plc

30

3263.67

979.10

2880.00

851.50

-127.60

-32.70

-3.8%

 

Creative Education

9825

10.18

999.91

5.00

478.75

-521.16

-24.56

-5.1%

 

Eckoch Technology

2000

39.13

782.56

9.25

172.50

-610.06

18.40

10.7%

 

GKN

396

252.34

999.25

256.25

1002.25

3.00

-8.91

-0.9%

 

Hardys & Hansons

143

424.33

606.79

652.00

919.86

313.07

24.31

2.6%

 

HSBC

98

918.10

899.74

838.50

809.23

-90.51

-28.91

-3.6%

 

Kelda

245

396.83

972.24

603.50

1466.08

493.84

1.23

0.1%

 

Rank

385

259.73

999.97

278.50

1059.73

59.76

-0.96

-0.1%

 

 

 

 

12168.50

 

12255.15

86.65

-95.95

-0.8%

Unit price reduced from 114 to 113p.

 

 

 

4. Review of current holdings

The following is a brief summary of what was said.

Kelda: Above stop loss; hold.

Carnival: Tips tracker recommend sell; tight stop loss broken; continuing to fall

Hardys & Hanson: ok to hold

Brown Group: Stop loss broken; looking for cost savings; recommend sell

HSBC: Tips tracker sell; keep with a tighter stop loss;

Creative Education: Hold, on an 1% stop loss

Rank: Keep whilst still above stop loss.

Eckoh: Trading sideways with a large swing; hold.

GKN: Dropped, possibly due to Rover; not through stop loss; have gone ex-dividend.

Personal Gp: Hold.

Scottish Power: Hold.

Whitbread: Hold

Pennon: Hold,.

 

5 . AOB

Decision made not to wind up the club as a result of the redundancies. Use Yahoo RIC group for poll on keeping club going.

 

Phil resigned from the club.

 


6. Agenda for next meeting

Review minutes of previous meeting
Review of actions
Treasurer's report
Review of current holdings
AOB
Agenda for next meeting


Action Summary

Geoff to progress on taking ownership of the club's current account.

Geoff to write a letter to ComDirect to take ownership of the trading account.
 
Date of next meeting

AGM date... Monday, 9th May 2005, 5.00pm to 6.00pm

 

R2: Added Les's name as attendee